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Corvus Gold Inc.
Summary
| Project: | Mother Lode | |
|---|---|---|
| Deposit: | Mother Lode | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 11/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-11-2018: Corvus Gold Inc. announces a PEA report for its Mother Lode deposit at the Mother Lode project. Updated PEA results incl. post-tax NPV of US $586M (5%), IRR of 38%, 4yr LOM at the project. This technical report entitled “Technical Report and Pr | |
| Resources: | (Resource, M+I): 53383Kt @ 0.68g/t Au, 1.159Moz Au contained | |
| CP/QP: | [Overall Report]: Scott Wilson (Resources Development Associates Inc.) | |
| ABSTRACT: | This technical report entitled “Technical Report and Preliminary Economic Assessment for the Integrated Mother Lode and North Bullfrog Projects, Bullfrog Mining District, Nye County, Nevada” (the “Technical Report”) summarizes technical information gathered on the Mother Lode Property (“ML” or “MLP”) and the North Bullfrog Property (“NB” or “NBP”) subsequent to the Corvus Gold Inc. (“CGI” or “Corvus”) Technical Report dated December 15, 2017 (the “2017 Report”). Prior to the 2017 Report, Corvus acquired the MLP from Goldcorp USA, Inc. on Jun 6, 2017. At the time of the MLP acquisition, there were no MLP Mineral Resources as defined by NI 43-101. Since September 2017, Corvus has been drilling mineralization at the MLP to support the estimate of Mineral Resources subsequent to the drilling data analysis, geological modeling and metallurgical testing that are presented in this Report. The MLP is located 10 kilometres southeast of NBP and the two projects would potentially have shared infrastructure and locally available development resources. Corvus has evaluated the combination of project infrastructure based upon the new Mineral Resources and technical information that have been developed at the MLP. Resource Development Associates, Inc. (“RDA”) have developed a preliminary economic assessment (“PEA”) at this time to reflect the integration of the two properties into a single mining operation (the “Project”). This Report reflects combined economic performance of NBP and MLP now that sufficient technical work on the Project has been completed. Highlights of the Technical Report, including the PEA, are listed in Table 1-1 through Table 1-9. Table 1-1 and Table 1-2 present a summary of the categorized Mineral Resources for the MLP and NBP. Mineral Resources are reported according to the CIM Definition Standards of May 10, 2014 (“CIM”). The guidance and definitions of CIM are incorporated by reference in Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects within Canada (“NI 43-101”.) Mineral Resources are pit constrained in order to estimate the portion of MLP and NBP that demonstrates reasonable prospects of eventual economic extraction. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. | |
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